Wireless internet connection: What is the difference between Channel 1,6 and 11?

I have just reconfigured my wireless connection as it was playing up. Seems fine now and i decided to put it on channel 11. Are all channels the same performance wise? It seems pretty good to me and i thought i would change it as before something could of possibly be interfering with the connection on the same channel, such as a wireless phone.

So, channel 11, good idea? Bad idea? So far no problems...